# 482 a how much interest will he earn each year 483

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482. a) How much interest will he earn each year?
484. Part 2485. b) What will be the total value of the account after eight years?
487. Question488. Charlene invested \$4,000 at 6 1/2% simple interest for 5 years.489. Part 1490. a. How much interest will she earn in 5 years?
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493. Part 2494. b. What will be the total value of the account after 5 years?
496. Question497. Now let's compare interest compounded continuously to simple interest. Suppose that\$80,000 is invested in two accounts: one earns 4% simple interest, the other earns 4%compounded continuously. Fill in the following tables with the future value of eachaccount after each term. Use the formula A = Pe^rt for interest compoundedcontinuously. Round your answers to the nearest cent.498. Question499. An investor has \$20,000 to invest and is willing to keep it invested for up to five years. Youinvest \$20,000 in a savings account that offers 1.63% compounded monthly. You canremove the money any time you like, but plan to keep it in the investment for 5 years. Donot round intermediate calculations.500. Part 1501. What is the future value of the investment? Round your answer to the nearest cent.502. The future value of this investment is \$ .503. Answer504. Part 2505. What is the effective rate? Round your answer to two decimal places.
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Term
Fall
Professor
Temkin
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The document you are viewing contains questions related to this textbook. The document you are viewing contains questions related to this textbook.
Chapter 3 / Exercise 05
Precalculus: Real Mathematics, Real People
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